Canadians will get money from the government in multiple ways in March 2025.
With high grocery prices, housing costs, and a generally soaring cost of living, money is tight for everyday Canadians. Food bank usage has hit record highs, and heightening unemployment makes a challenging situation even more difficult for many individuals and families.
However, some benefits are available that can help alleviate the stress on your wallet a little.
If you’re eligible, ensure your direct deposit is enabled as you look forward to the following.
Canadian parents eligible to receive child tax payments can expect the money from the government to arrive in their accounts on March 20.
Child tax payments increased by 4.7 per cent in the summer of 2024. This means the maximum benefit for children under six increased by $350, from $7,437 to $7,787. For children aged six to 17, it increased by $295, from $6,275 to $6,570.
Another much-needed federal child tax booster will come to all eligible Canadian parents in six months when the new benefit year begins in July 2025.
The CCB program underwent a dramatic rule change in January. The rest of the child benefit payment dates in 2025 have also been announced.
If you live in B.C., you might also receive the provincial Family Benefit on March 20, with a bonus.
The 25 per cent bonus on the Family Benefit kicked in in July 2024 and will apply until June 2025.
The benefit is paid monthly to about 340,000 families with children in the province via direct deposit or mailed cheques.
Eligible residents may receive a total annual amount of $2,188 for their first child, $1,375 for their second child, and $1,125 for each additional child until June 2025.
Payments will arrive in conjunction with the CCB, which drops on January 20.
The OTB is the combined tax-free payment of the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit. It will go out on March 10.
You should be eligible for at least one of the three credits to receive money.
For the Ontario Energy and Property Tax Credit, you could get a maximum of $1,248 if you are between 18 and 64 years old, $1,421 if you are 65 or older, $277 if you live on a reserve or in a public long-term care home; and $25 for the time you lived in a designated college, university, or private school residence in 2023, according to the province’s website.
The Northern Ontario Energy Credit allows singles to receive a maximum of $180 and families to receive a maximum of $277.
Finally, in the case of the Ontario Sales Tax Credit, you can receive up to $360 and may receive an additional credit of up to $360 for your spouse or common-law partner and each dependent child who is under 19 years of age on the 1st of the payment month. The credit doesn’t impact your GST/HST credit payments.
Learn more about eligibility on the province’s website.
